Friday, January 30, 2009

the "Worst Bill In Galactic History"

The economy is in recession. There's no end in sight. The number of unemployed continues to rise. Equities markets are in the dumps. The real estate sector hasn't hit bottom. The banks are drowning in a sludge of toxic assets. Excuse us while we break out the Prozac.

Washington's response? Pathetic. House Speaker Nancy Pelosi let her appropriators out of their cages and had them draft the American Recovery and Reinvestment Act of 2009. This is the economic stimulus package that everyone has been waiting for. And it's a clunker. The more you learn about the economic stimulus plan, the less you like it. Charles Krauthammer called it the "worst bill in galactic history." This is only a slight exaggeration.

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